The dawn of a new year always carries with it the promise of a fresh start, a clean slate upon which we can inscribe our aspirations and dreams. In the case of 2024, this symbolic clean slate takes on even greater significance given the challenges and uncertainties of the past years.
It's a time when individuals collectively hit the reset button and set their sights on a future filled with hope, innovation, and progress. The corridors of the corporate world are not any different. From boardrooms to cubicles, CEOs to mid-level managers, resolutions flourish in abundance.
For Linet Kinga, the founder of Bed Palace Kenya, the new year is a time to reflect on the challenges faced and the opportunities that lie ahead, focusing on fewer but attainable goals.
Late last year, the renowned bedroom furniture company suffered a setback after a devastating fire engulfed their workshop. However, Ms Kinga shares that this year, her goal is to turn the adversity into an opportunity for growth.
"The fire may have brought us to our knees, but it has also given us a chance to rebuild and innovate. We aim to introduce new and improved designs that cater to the evolving tastes and preferences of our customers. By embracing cutting-edge technology and modern production techniques, we aim to provide high-quality bedroom furniture that exceeds expectations," she says.
Additionally, Ms Kinga projects on expanding their operations by opening a new branch in a different region of Kenya, hence bringing their furniture closer to a wider customer base. "This expansion will not only increase our sales but also create job opportunities for the local community, contributing to the growth of the economy."
On enhancing the customer experience, Ms Kinga says she aims to improve it overall by offering personalised consultations, convenient online shopping options, and prompt after-sales service.
"By prioritising customer feedback and continuously improving our services, Bed Palace Kenya seeks to build long-lasting relationships with our clientele," she elaborates.
With growing global concern for the environment, Ms Kinga recognises the need to incorporate sustainable practices into their operations. This includes reducing the company's carbon footprint by sourcing eco-friendly materials and implementing energy-efficient manufacturing processes.
Mathenge Waweru, the co-founder and Product Lead at Shukran, a digital tipping platform, says that their goals this year are centered around their key performance indicators.
"We plan to achieve Sh21 million in assets under management and Sh6 million in cumulative tip volume, get 3,000 saving members on our platform, and raise $200,000 (over Sh31 million) in grant funding," he says.
He plans to achieve these goals by expanding their customer base, targeting hotels within and outside Nairobi, and identifying other customer segments that receive tips in high volumes.
"We will enhance our product with high-value features for existing users like waiters and boda boda riders, as well as new markets like hotels and even social media influencers. Lastly, we are increasing word-of-mouth through testimonial content from our users and ambassador programmes to onboard more service workers onto our platform," he elaborates.
What's different with this year's resolution is that the company has a clear understanding of the key performance indicators (KPIs) that matter to them, as Mr Waweru puts it.
"Last year was all about user acquisition, but having registered users doesn't mean usage of the product. We also didn't have any fundraising goal but a valuation goal, which is an amateur mistake that startup founders make. In this economy, it is best to focus on what value you offer to the market and reduce status-seeking through high valuations," he explains.
For Eunice Omollo, an independent career coach with Skills to Grow Africa, her goals are to employ six consultants to enhance the range and depth of services. Additionally, they will promote an effective turnaround time of 24 hours that is prompt and of high quality. Secondly, she aims to broaden the scope of organisation's services to clients globally.
"This is through leveraging technology, specifically artificial intelligence when seeking opportunities for individuals and also tailoring solutions for an international clientele," she elaborates.
To boost her service portfolio, Ms Omolo aims at introducing additional offerings such as specialised workshops, webinars, or resources to augment the value provided to clients seeking career development support.
